How much time will it take for an amount of to yield as interest at per annum of simple interest?
- A3.5 years
- B4 years
- C4.5 years
- D5 years
Solution & Step-by-step Explanation
Given parameters:
* Principal ()
* Simple Interest ()
* Rate of Interest () per annum
The formula for simple interest is:
Substituting the given values to solve for time ():
* Principal ()
* Simple Interest ()
* Rate of Interest () per annum
The formula for simple interest is:
Substituting the given values to solve for time ():